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The standard of living rises at a slower pace than labor productivity if
Society
A group of individuals involved in persistent social interaction, or a large social grouping sharing the same geographical or social territory, typically subject to the same political authority and dominant cultural expectations.
Culture
The shared values, traditions, norms, customs, arts, history, folklore, and institutions of a group of people that are passed down from generation to generation.
Stereotyping
The act of assigning a fixed set of characteristics to a group of people or things, often based on oversimplifications or assumptions.
Cultural Pluralism
A condition or system in which various cultural groups coexist within a society, maintaining their cultural differences.
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